Find out just how much you will get from the Powerball and Mega Millions lotteries.
The lottery only withholds 25% of Powerball jackpot winnings, but when state and federal taxes are added in, winners pay much, much more.
That's because only about half of Powerball ticket revenue is returned in the In fact, in most states (and at the federal level), taxes on lottery. The highest paying cash back card has arrived. But unfortunately, Powerball taxes and a lump sum payment will take up a lot of those winnings. If you join a lottery powerball taxes with others to buy a stockpile of tickets, your prize will be smaller because you're sharing it. This benefit is available with TurboTax Federal products except TurboTax Business. All products and services featured are based solely on editorial selection. Estate and Gift Taxes.